PRGX: Vendor Snapshot Part 1 — Background & Solution Overview
[PRO]

For those that do not know it, PRGX would appear to be one of a select number of dominant services provider in the niche market for recovery audit services — a market that unlike other procurement services faces tremendous price pressure for its core recovery, statement and related auditing and profit recovery services. But PRGX has started to remake itself quietly from within — out of necessity, given these broader market trends — building and acquiring technology capabilities in the spend analytics and supplier management areas, both to expand its relevance and to start driving automation and scale in its core business.

Its recent acquisition of Lavante, a supplier management provider with best-in-class supplier information management (SIM) and master data management (MDM) capabilities, showcases the direction PRGX is taking as it migrates from an audit-driven services firm to a new type of savings and recovery “as-a-service” solutions provider. It brings particular competence in extending core spend analytics to payment and product (SKU) analyses, the latter of which is particularly relevant to its core retail client base (from its recovery audit business).

This Spend Matters PRO Vendor Snapshot provides facts and expert analysis to help procurement organizations make informed decisions about PRGX and whether its technology and solution capabilities are a fit for their needs (it does not provide a review of PRGX’s core recovery audit services capability). Part 1 of our analysis provides a company background and detailed solution overview, as well as a summary recommended fit suggestion for when organizations should consider PRGX in the procurement technology and solutions area. The remaining parts of this research brief will cover product strengths and weaknesses, competitor and SWOT analyses, and insider evaluation and selection considerations.